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- W65989029 abstract "This thesis examines the behaviour of aggregate output using Australian data. One objective is to determine whether aggregate output growth is better characterized by a deterministic trend model or by a stochastic trend model. The presence of a unit autoregressive (AR) root in the ARMA model for the levels of log-output would indicate a stochastic trend, while the presence of a unit moving average (MA) root in the ARMA model for the first differences of log-output would indicate a deterministic trend. A second objective is to estimate impulse response functions for the levels of log-output, which provide information on the effects of output shocks over a finite as well horizon. Other non-parametric measures of the persistence of output shocks are also obtained. The results for Australian GDP and gross non-farm product support the use of stochastic trend models, and provide evidence of output shocks having a persistent effect. However, the results for gross farm product indicate low persistence, as well as the possibility of a deterministic trend model being appropriate for charactering farm output behaviour." @default.
- W65989029 created "2016-06-24" @default.
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- W65989029 date "1987-01-01" @default.
- W65989029 modified "2023-09-24" @default.
- W65989029 title "Australian output fluctuations : permanent or transitory?" @default.
- W65989029 hasPublicationYear "1987" @default.
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